As concerns grow that Canada’s red-hot real estate market may be starting to cool, one real estate agent in Toronto says that some homeowners in the city are becoming increasingly “desperate to sell right now.”
“They’ve already purchased their next home,” Brett Stein, a real estate agent with Stein Realty Group, told CTV News Channel on Wednesday. “In order to get financing… they need to sell quick.”
Stein says amid high inflation and with mortgage rates rising, buyers’ confidence is dropping, which will force many sellers to “adjust their expectations.”
To hear more, watch the video at the top of this article.
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